(I-BusinessNews.Com, October 07, 2020 ) Human Resource Software is trending in market. Many organizations are getting it implemented for easing the process of human resource operations. Best HR Software enables organizations to manage employee data along with their attendance, payroll management efficiently. HR personnel has responsibilities of many tasks which need to manage lot of documents. With the help of this software organizations can optimize these tasks and reduce manual work.
> Employee Information Management- This software comes with complete employee database that contains all the important information of employeesÂ right from their joining details till their behaviour in organization. It also ensures that entire data is linked to the universal organization record, so that it becomes easy to track and spool reports.
> Recruitment & Hiring- The software eases the process of recruitment and makes sure that all the required information is handy. It takes care of entire employee lifecycle and optimizes the hiring process.
> Talent Management- Understanding if employee is talented or not is a challenging task. The software evaluates employees even post interview is done. It tracks employee performance, their satisfaction level and many such characters.
> Benefits Management- This is one of the key tasks of HR department. This software very well manages benefits administration, health insurance, retirement plans, and other compensations offered by the organizations.
> Financial Management- Financial management includes tasks like payroll, compensation, rewards, salary hikes and many more. HR software simplifies this financial planning by optimizing such tasks.
> Time & Attendance Management- It manages staffing timings of the employees. Also makes entry when employee is on leave like maternity or disability or any other type of absentee.
> Learning & Professional Development- HR software also provides a universal platform where multiple trainings and educational videos can be uploaded that can benefit employees. It can also track the variety of certificates that employees receive by completing desired courses and reduce manual work.
> Accounting- Accounting in HR department includes tasks like financial planning, managing budgets and invoices. The software can accurately calculate the detailed budgets without any errors and reduces the chances of any manual mistakes.
> Employee Self-Service- This feature of software reduces burden of clerical work from HR dept. It enables employees to edit data themselves and also has restrictions for certain important data. So, it adds to data security as well.
> Automated Alerts- Reminding employees or even stakeholders at times for certain tasks can be strenuous. With HR software it becomes possible to send automated alerts or reminders to employees in case of any policy updates or even internal communications.
Latest Trends in Human Resource Software: 2020
Looking at the impact that Human Resource Software has created on business, the growth in this market is predictable. Organizations need daily technical advancements in such software which will help them to automate many of its tasks and reduce manual work by boosting its productivity. LetÂs see few trends in Human Resource Software:
Â Artificial Intelligence & Machine Learning in HR software
Â Virtual Workspace Technology
Â People Analytics
Â Real-time Feedbacks
Â HR Cloud
Â Integration with fitness apps
Â Accurate Performance Assessment
Â Data Security
Â Predictive Analytics
Mr. Agney Sugla
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Mr. Manoj Singhvi